AMETEK, Inc. (NYSE:AME) Given Average Rating of “Moderate Buy” by Brokerages

Posted by Defense World Staff on Jun 6th, 2023

Shares of AMETEK, Inc. (NYSE:AME – Get Rating) have earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $153.50.

Several research firms have weighed in on AME. Wolfe Research cut AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 23rd. Mizuho upped their target price on AMETEK from $153.00 to $161.00 in a report on Wednesday, May 3rd. Finally, StockNews.com initiated coverage on AMETEK in a research report on Thursday, May 18th. They set a “buy” rating on the stock.

AMETEK Trading Down 1.2 %

NYSE AME opened at $148.81 on Tuesday. AMETEK has a 12 month low of $106.17 and a 12 month high of $151.20. The stock has a market cap of $34.30 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.76 and a beta of 1.22. The stock’s fifty day moving average price is $142.33 and its 200-day moving average price is $141.85. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28.

AMETEK (NYSE:AME – Get Rating) last posted its earnings results on Tuesday, May 2nd. The technology company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.08. AMETEK had a return on equity of 18.42% and a net margin of 18.97%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. AMETEK’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that AMETEK will post 6.11 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 12th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 9th. This represents a $1.00 annualized dividend and a dividend yield of 0.67%. AMETEK’s dividend payout ratio is presently 19.38%.

Insider Activity at AMETEK

In other news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $137.54, for a total value of $107,281.20. Following the completion of the sale, the director now directly owns 8,780 shares of the company’s stock, valued at $1,207,601.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Anthony James Conti sold 3,440 shares of the business’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $139.57, for a total value of $480,120.80. Following the completion of the sale, the director now directly owns 26,078 shares of the company’s stock, valued at approximately $3,639,706.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $137.54, for a total value of $107,281.20. Following the completion of the transaction, the director now owns 8,780 shares in the company, valued at approximately $1,207,601.20. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several institutional investors have recently modified their holdings of AME. Ten Capital Wealth Advisors LLC increased its holdings in shares of AMETEK by 78.1% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 228 shares of the technology company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Quent Capital LLC lifted its holdings in AMETEK by 64.0% in the third quarter. Quent Capital LLC now owns 228 shares of the technology company’s stock worth $26,000 after acquiring an additional 89 shares during the last quarter. Covestor Ltd increased its stake in shares of AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of AMETEK in the fourth quarter valued at approximately $28,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of AMETEK during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 85.42% of the company’s stock.

About AMETEK

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AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.